Over the past few years, the education sector in
India has seen a soaring rise in its profits. The rapid evolution of the
industry has not only benefitted its students but also its investors. The success
that the education industry has achieved in such a short time makes it a
profitable industry to invest it.
Parents of today want to give their children the
best education and that includes the building blocks of a child’s educational
life/journey i.e preschool. The importance of quality education during a
child’s most crucial developing years cannot be stressed enough. It’s during
these years that a child can truly grasp the most amount of knowledge and
skills with ease, and parents are conscious of this. This change in mindset is
one of the biggest reasons why quality preschool franchise businesses are
booming. The Indian education industry is expected to reach US$ 101.1 billion
by 2019. If you have been planning on entering this industry then this is the
right time to take the plunge.
Why choose a franchise opportunity
over starting your own preschool?
Startups have a much higher failure rate in
comparison to franchise businesses. 90% of startups fail in the first five
years according to Oxford Economics. A few major reasons are- lack of a unique
business model, substandard marketing, and getting surpassed by established
competitors. These problems rarely arise for established franchises as they
already have a tried and tested business model in place with a proven success
rate. Apart from that, an established franchise for preschool
will offer you an exceptional curriculum, appropriate training and support,
diligent guidance, successful promotional and publicity materials, manuals to
guide you through every step, efficient revenue models, technical expertise,
etc. The perks of being a franchisee are unrivalled.
Now that you know how beneficial a preschool franchise
can be, here are a few things to keep in mind that will help you plan your
journey into the education industry-
• Franchisee fees and investment amounts differ from franchise to
franchise. Research on which one is the most viable to you and suits you the
best. Once you have the investment amount in place you can focus on the
next steps.
• Having the right location and space size is one of the most
crucial points. Most of the established franchises will have approximate space
requirements that you will have to adhere to.
• Hiring the right staff has a huge impact
and is essential for the smooth running of day-to-day operations, be it
teachers, assistants, drivers for pick up and drop services, security personnel
or helpers. The staff you hire should be warm and welcoming and good with
children and their parents.
• The furniture, play equipments and toys that you purchase
should be of an exceptional quality and safe for the children.
• Whether it is surveillance cameras or security guards, appropriate security
measures and systems need to be in place for the safety of the children.
• If you are going to provide food and beverages, whether they
are prepared in-house or outsourced, make sure that they are prepared
hygienically and are safe for consumption by children.
Apart from being a noble profession, the
education industry is sure to be fruitful and profitable to you.